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SOFTWARE ETC. STORES REPORTS THIRD QUARTER RESULTS

 MINNEAPOLIS, Nov. 16 /PRNewswire/ -- Software Etc. Stores, Inc. (NASDAQ: SFWR), the nation's leading specialty retailer of home PC and video game software, today reported its results for the third quarter and nine months ended Oct. 30, 1993.
 Revenues in the third quarter were $52.1 million, up 33 percent from $39.1 million a year ago. Net income for the quarter was $82,000 or $.01 per share, compared with a net loss, before the extraordinary item, of $(216,000) or $(.03) per share for the same quarter last year. For the nine months ended Oct. 30, 1993, revenues reached $147.4 million, up 27 percent from $115.9 million for the year-ago period.
 Comparable store sales for the third quarter of 1993 rose 12 percent. Software Etc. President and CEO Dan DeMatteo attributed the strong sales gains during the quarter to the release of hot new video game titles such as Mortal Kombat, Streetfighter II Turbo and Jurassic Park. Other contributing product lines to the retailer's strong sales performance were PC upgrades and productivity software.
 During the third quarter Aug. 1-Oct. 30, 1993, Software Etc. opened 22 new stores and relocated one store. At the quarter-end, Software Etc. operated 317 stores in 45 states and the District of Columbia. The company plans to open an additional 13 stores by the end of November, bringing its total store count to 330 stores. Software Etc. stores stock broad assortments of home personal computer software; supplies and accessories; video game software and systems; PC upgrades; and computer books and magazines.
 SOFTWARE ETC. STORES, INC.
 STATEMENTS OF OPERATIONS
 (Unaudited)
 (dollars in thousands, except per share data)
 13 weeks ended 39 weeks ended
 10/30/93 10/31/92 10/30/93 10/31/92
 Net sales $52,060 $39,074 $147,411 $115,943
 Cost of sales 35,558 26,251 101,829 77,262
 Gross margin 16,502 12,823 45,582 38,681
 Store operating expense 13,656 10,650 38,459 31,015
 General and administrative
 expense 2,192 1,900 6,489 5,666
 Store closing expense -- -- 103 346
 Operating income 654 273 531 1,654
 Interest expense 523 627 1,598 2,124
 Income (loss) before income
 taxes, extraordinary item and
 cumulative effect of change
 in accounting method 131 (354) (1,067) (470)
 Income tax provision
 (benefit) 49 (138) (405) (145)
 Income (loss) before extra-
 ordinary item and cumulative
 effect of change in
 accounting method 82 (216) (662) (325)
 Extraordinary item -- tax
 provision arising from carry-
 forward of prior periods' net
 operating losses -- (122) -- (161)
 Cumulative effect as of
 Jan. 30, 1993, of change in
 method of accounting for
 income taxes -- -- 1,427 --
 Net income (loss) $82 $(338) $765 $(486)
 Preferred stock dividends and
 redemption premium -- -- -- (318)
 Net income (loss) applicable
 to common stockholders $82 $(338) $765 $(804)
 Earnings (loss) per common share
 Income (loss) before extraordinary
 item and cumulative effect of change
 in accounting method $.01 $(.03) $(.08) $(.10)
 Extraordinary item -- (.02) -- (.03)
 Cumulative effect of change
 in accounting method -- -- .18 --
 Net income (loss) $.01 $(.05) $.10 $(.13)
 Weighted average common shares
 and equivalent shares
 outstanding 8,076,361 7,093,933 7,886,378 6,255,070
 -0- 11/16/93
 /CONTACT: Bob Strawman, chief financial officer, of Software Etc. Stores, 612-893-7622/
 (SFWR)


CO: Software Etc. Stores, Inc. ST: Minnesota IN: CPR SU: ERN

CP-DS -- MN013 -- 5029 11/16/93 11:25 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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